Swine Feed Market Projected to Experience Major Revenue Boost during the Period between 2017-2022
Fact.MR’s recently published report projects that the global swine feed market will reach a valuation in excess of US$ 160,100 Mn by the end of 2022.
[UKPRwire, Sat Apr 13 2019] Swine feed plays an important role in raising pigs successfully. Most pig farm owners are investing heavily on swine feed to ensure supply of proper nutrition to pigs on a regular basis. Moreover, swine feed allows pigs to grow quickly as well as keeps their health at optimum levels by increasing immunity power and resistance to viral diseases. In modern pig farming, it is crucial to create a planned nutritional program for the pigs in order to have efficient swine production.
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Swine feed is prepared using ingredients such as soybean oil, corn, alfalfa barley, sorghum and canola, making it a potent source of nutrients. For pigs to grow healthily, it is important that they receive vital nutrients such as vitamins, protein, minerals, carbohydrates and water. Swine feed offers most of these nutrients apart from water. Besides, farmers have the flexibility to mix additional ingredients or rearrange the proportion of any particular ingredient present in the feed according to the requirement. This, in turn, allows farmers to create the best-possible diet for pigs for optimal growth.
Increasing consumption of pork across the globe is making a direct impact on the global demand for swine feed. At the same time, growing demand for high quality pork is also contributing to the global sales of swine feed. As per the latest report published by Fact.MR, the global swine feed market is set to register a steady growth between 2017 and 2022 to surpass a valuation of US$ 160,100 Mn. Growing awareness among farm owners regarding healthy pig diets is also reflecting favourably on the global swine feed market. There has been greater urgency to introduce high-quality and more effective animal feeds that improve the immunity of farm animals against enzootic disorders. In addition, arrival of premium-quality swine feed is anticipated to check the incidence rate of animal epidemics.
APEJ at the Forefront of Global Swine Feed Market
The market for swine feed is expected to remain highly lucrative in the Asia-Pacific excluding Japan (APEJ) region during the forecast period. In APEJ, China accounts for a significant share of the market on account of being one of the largest producers of pork in the world. Also, demand for swine feed is expected to increase at a steady pace in countries such as Philippines, Thailand, and Vietnam. Meanwhile, North America and Europe are two leading markets for swine feed as consumption of pork remains high in these regions.
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Starter Diets will remain the Most Preferred Diet Type
Starter diets will continue to hold the top position throughout the assessment period. Currently, starter diets represent more than one-fourth share of the global market in terms of revenue. Towards the end of 2022, over US$ 42,770 Mn worth starter diets are expected to soled worldwide.
Wheat – Top Selling Swine Feed Ingredient
Demand for wheat for preparation of swine feed is likely to remain relatively high as compared to other feed ingredients. Wheat currently command for close to 22% revenue share of the global market. Global sales of wheat for preparation of swine feed is estimated to bring in over US$ 36,370 Mn in revenues by 2022-end.
Some of the key companies functioning in the global swine feed market include Alltech Inc., Archer Daniels Midland Company, Charoen Pokphand Foods PCL, Cargill Inc., Koninklijke DSM N.V., Nutreco N.V., Ridley Corporation Limited, Kent Nutrition Group Inc., Purina Animal Nutrition LLC., and BENEO GmbH.
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